Magang (Group) Holding Co., Ltd. is an extra large-sized iron and steel complex in China which was founded in 1958. Presently Magang’s steel production capacity amounts to 18 million ton and its total assets amount to more than RMB 90 billion. Magang steel production was 16.68 million ton and its total sale amounted to RMB 92.3 billion in 2011. Among the top 20 steel enterprises in the world, Magang (Group) ranks No. 19 as per SBB (Steel Business Briefing).
Magang (Group) business mainly involves Iron & Steel industry, mineral resources industry and other diversified industry. Its iron & steel business is mainly in Maanshan Iron & Steel Co., Ltd. (Masteel) which is mainly engaged in ferrous metal smelting and rolling processing and product sale and support services. Masteel owns the top production lines in the world for thin strip cold-rolling and thin strip hot-rolling, strip hot-galvanizing, strip color coating, silicon steel, H-beam, high-quality wire & rod, train wheel, etc. A unique product catalog of “plate & strip, section steel, wire & rod and train wheel & tyre” has been formed in Masteel. Magang (Group) mineral resource industy is mainly in iron ore with its business in Magang Mining Corporation which includes Nanshan Mine, Gushan Mine, Taochong Mine, Luohe Mine and Zhangzhuang Mine. Magang’s diversified industry covers finance, environment protection, logistics, trading, engineering, steel structure, equipment manufa cturing and erection, technology consulting and labor services, etc.